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    Newly Renovated Best Western Hotel Title is generated by Realmo AI

    126 Expressway Dr, Manchester, TN 37355

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    Recently renovated 83-room hotel in Manchester, Tennessee for sale.

    Type:Hospitality
    Property size:
    54,516 SF
    Price / SF:
    $148/SF
    Added:
    Sep 18, 2024
    Days on Market:
    626
    Last Refresh:
    May 12 at 8:42 pm

    Property Features for 126 Expressway Dr

    General Information

    Standard status
    Active
    Size
    54,516 SF
    Property subtype
    Hospitality

    Building Details

    Year Built
    1978

    We can help!

    Listing Contact
    Jennifer Stein
    Jennifer Stein

    Listing agent Jennifer Stein License #201212938

    Listing office JDS Real Estate Services, Inc.

    Listing date Sep 18, 2024

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of JDS Real Estate Services, Inc.

    HighLights

    • Newly renovated Best Western Legacy hotel with zero PIP requirement.
    • Prime location in the Tullahoma‑Manchester MSA with high visibility and access to I‑24.
    • New 10‑year franchise agreement with Best Western in place.
    • Significant revenue opportunity from leasing a separate 10,000 SF building with a full‑size kitchen, ideal for a restaurant.
    • Comprehensive renovation completed in 2025, featuring a new entryway, breakfast area, elevator, fitness room, meeting room, pool, roof, windows, and furniture.
    • Located in a growing economic area with major employers like AEDC and benefits from the annual Bonnaroo Music Festival.

    Overview

    A newly opened Best Western Legacy brand hotel in Manchester, Tennessee, is available for purchase. Situated in the Tullahoma-Manchester Metropolitan Statistical Area, the property is located midway between Nashville and Chattanooga, offering accessibility to major markets and transportation routes along the I-24 corridor. The two-story interior corridor hotel features 83 rooms and suites. The property underwent complete interior and exterior renovation, completed in 2025, with no Property Improvement Plan requirements for a new owner. Originally constructed in 1972 for the Holiday Inn brand and rebranded to Country Inn & Suites in 2001, the hotel now has a 10-year franchise agreement with Best Western. Renovations include a new glass entryway, front desk, breakfast area, elevator addition, fitness room, meeting room, outdoor swimming pool, a combination of LVT and carpet flooring, new roof, windows, blackout window treatments, and furniture. An additional revenue opportunity exists through leasing the property’s east side building, which has a separate entrance and approximately 10,000 square feet of space with a full-size kitchen, suitable for a restaurant. The location allows the hotel to attract customers and talent from a broad region. The area has experienced steady economic growth, with developments in manufacturing, retail, and services. Major employers and industries, such as the Arnold Engineering Development Complex (AEDC), contribute to a stable economic environment. The city's annual Bonnaroo Music and Arts Festival attracts a significant number of visitors, boosting local businesses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Best Western Manchester Hotel & Motel

    Suggested Use

    Real Estate Agency Restaurant Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Manchester
    County
    Coffee
    State
    Tennessee
    Longitude
    -86.054763
    Latitude
    35.461432

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      Newly Renovated Best Western Hotel

      83-room hotel in Manchester, TN with renovation completed in 2025.
      126 Expressway Drive, Manchester, TN 37355
      View Details

    FAQs

    What type of property is this?
    Hotel - Recently renovated 83-room hotel in Manchester, Tennessee for sale.
    Where is this hotel located?
    The property is located at 126 Expressway Dr Manchester, TN.
    What is the asking price?
    The asking price for this property is $8,100,000.
    What are key features of this property?
    This property features: Newly renovated Best Western Legacy hotel with zero PIP requirement.; Prime location in the Tullahoma‑Manchester MSA with high visibility and access to I‑24.; New 10‑year franchise agreement with Best Western in place.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jennifer Stein
    Jennifer Stein
    Real Estate License ID: 201212938
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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